Hospitality Hub of Memphis

Analysis

Hospitality Hub of Memphis is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in October 2009, 17 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hospitality Hub of Memphis reported income of $6.8m and spending of $6.3m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.1m to $6.8m (+118%), an average of +22% a year. The sharpest change came in the year to December 2020, when income rose by 214%. Over the whole period it spent 49% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hospitality Hub of Memphis sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within TN. Charities of a similar size with the same main cause include Elevate Hope Inc ($6.8m), Anderson Interfaith Ministries Inc ($6.8m) and Young Mens Christian Association of Lansing Mich ($6.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $96k (1.5% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $16.1m against liabilities of $1.5m, net assets of $14.6m. It reported 93 employees.